I'm not sure about the cable being able to take the amount of load that the prop would put out. On an inboard hull, the props are very small compared to an airplane prop. The shafts are relatively short and no deep or sharp angles are used. Keeping the shaft properly lubricated would also be an issue. Though it may be possible, imo, not very practical.

Now, a solid shaft and beefy u-joint or cvd type joint........????